Airtel Africa plc ("Airtel
Africa"), a leading pan-African provider of telecommunications and mobile money
services, with a presence in 14 countries across Africa, today confirms that
the default currency and options on currency election for the dividend will be
as follows:

Shareholders
holding their shares on The Nigerian Stock Exchange ("NSE") without valid
Nigerian Certificate for Capital Importation ("CCI") will be paid
their dividend in Naira as the default currency;

Shareholders
holding their shares on The NSE with valid CCI will be paid their dividend in
US dollars as the default currency. However, those shareholders may instead
elect to receive their entire dividend payment in Naira (partial elections are
not permissible). Evidence of the CCI must be provided to the company's
registrars, United Securities Limited; and

Shareholders
holding their shares through depository interests on the London Stock Exchange
will be paid their dividend in US dollars as the default currency.

The following currency
exchange rate will be applicable in the determination of the H1 2019 - 20
interim dividend payment to any shareholders that qualify for and have elected
to receive the H1 2019 - 20 interim dividend payment in Naira:

Exchange Rate

1 USD = 306.40 Naira

The exchange rate for
the Naira amounts payable was determined by reference to the exchange rates
applicable to the US dollar available on 13 November 2019.

The closing date for
dividend currency election to the Company's Registrars United Securities
Limited in Nigeria is 22 November 2019.

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